Bloomberg Billionaires Index

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#440 Joan Tisch $4.47B

Random fact: First volunteered at Gay Men's Health Crisis in 1986 to fight AIDS.

Overview

Tisch owns 6 percent of Loews, a New York-based value investing firm, as well as half of the New York Giants football team. She inherited both from her husband Preston "Bob" Tisch who died in 2005. Her son Jonathan Tisch is co-chairman of Loews; her nephews Andrew and James are co-chairman and CEO, respectively.

As of Oct. 17, 2017:
Last change +$4.04M (+0.1%)
YTD change +$6.99M (+0.2%)
Industry Diversified
Biggest asset Cash
Citizenship United States
Age 90
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Joan Tisch's net worth of $4.47B can buy ...

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troy ounces of gold
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barrels of crude oil

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
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Misc. liabilities
Confidence rating:

Tisch inherited her fortune from her husband Preston "Bob" Tisch, who died in 2005. Tisch was a co-founder of publicly traded investing conglomerate Loews Corp. She received her husband's shares in the company as well as part ownership of the New York Giants football team.

The billionaire owns more than 20 million shares of Loews, about 6 percent, according to a Form 13G she filed with the Securities and Exchange Commission stating her shareholdings as of Dec. 31, 2016. She's collected more than $2 billion since 2005 by selling shares, based on disclosures made with the SEC. She has no management role with Loews and categorizes her ownership as that of a passive investor, which means she isn't required to disclose sales despite owning more than 5 percent of shares. She fell below 10 percent ownership level - in which all types of shareholders must disclose all sales - in May 2006.

Since that date stock transactions are calculated using average share prices between disclosures of her holdings to the SEC, which occur at least once a year, after accounting for share donations to the charitable foundations of her children Laurie, Stephen and Jonathan, based on foundation tax returns for 2006 through 2014.

She owns half the New York Giants. The team is valued at $2.4 billion based on a September 2017 analysis for Bloomberg by Marc Ganis, president of sports consultancy Sportscorp.

Mary Skafidas, a spokesperson for Loews, said in 2016 she could not comment on Tisch's shareholdings because the billionaire is not an officer of the company. A request placed through Skafidas to speak with Tisch or a representative didn't get a response.

Biography

Birthdate: 1926
Family: Widowed, 3 children
Education: University of Michigan, Science, Bachelor's Degree

Joan Hyman Tisch was born in 1926 and attended the University of Michigan in Ann Arbor. There, as an undergraduate studying English, she met Preston "Bob" Tisch on the steps of the Hatcher library. They later married and moved to New York City, where Bob began a successful career in investing, highlighted by the founding of publicly traded Loews Corp. with brother Laurence, and half ownership of the New York Giants National Football League franchise.

At the height of the AIDS crisis in 1986, Joan walked into a Gay Men's Health Crisis, a non-profit combating the disease, and volunteered to stuff envelopes, answer phones and help people navigate medical bills, according to a 2011 press release from the organization. It was the start of a continuing association with GMHC and part of the billionaire's high profile association with a number of New York non-profits, including the Whitney Museum, Metropolitan Museum of Art, the 92nd Street YMCA and the New York University Langone Medical Center.

She and Bob had three children: Jonathan, Laurie and Steve. Her husband died from a brain tumor in 2005. Jonathan is now co-chairman of Loews, Steve is an executive with the Giants and Laurie is an active philanthropist. The billionaire lives in Manhattan.

Milestones
  • 1926 Joan Tisch is born.
  • 1948 Graduates University of Michigan with an English degree.
  • 1959 Loews Corp., founded by brothers Bob and Larry Tisch, goes public.
  • 1986 Begins working with Gay Men's Health Crisis and AIDS victims.
  • 1991 Tisch family buys half of New York Giants football team for $60 million.
  • 2005 Preston "Bob" Tisch dies of a brain tumor.
  • 2008 Lorillard, Loews tobacco business is spunoff.
  • 2013 Loews annual revenue peaks at $15.1 billion.